Accord Mortgages is launching a new range of Help to Buy products to support first-time buyers applying for the new government scheme to get a foot on the property ladder.
The collection of 2 and 5-year fixed rate products previously available for the current scheme have been refreshed and are being launched ahead of reservations for the new scheme commencing on Wednesday 16 December 2020.
Brokers can now select a 2-year fixed rate at 2.10% at 60% LTV with a £495 product fee, £500 cashback and free valuation and a 5-year fixed rate at 2.16% at 60% LTV with a £995 product fee, £1000 cashback and free valuation.
In addition there is a 2-year fixed rate at 2.19% at 75% LTV with a £495 product fee, £500 cashback and free valuation a 5-year fixed rate at 2.25% at 75% LTV with a £995 product fee, £1000 cashback and free valuation.
These products can also be used for any Help to Buy applications in Wales which will continue using its existing scheme until 2022.
Nicola Alvarez, corporate account manager – proposition development at Accord Mortgages, said: “Having already supported the purchase of nearly 3,000 homes within the current Help to Buy scheme, we are delighted to be launching a range of products for the new scheme and help even more would-be home owners make that first purchase.
“There are some key changes between the current and new scheme, most notably that all applicants must be first-time buyers, having never owned a home anywhere in the UK or the world.
“There are also regional caps, all the details of which can be found in our Growth Series Help to Buy guide.
“We are committed to supporting brokers with the transition as well as offering the dedicated new build support, underwriting and service brokers have come to expect from us.”
As part of this product change Accord is also launching eight fee free products between 75-85% LTV with up to £500 cashback and free valuations for house purchase and up to £250 cash back, free valuation and free legal services for remortgages.
Accord will still accept applications for the current scheme and the same product rates and incentives apply.